Hanwha Systems Reports Q2 Revenue of 1.1176 Trillion Won and Operating Profit of 103.7 Billion Won
Revenue Up 45%, Operating Profit Soars 219%
Major Defense Exports and Mass Production Drive Strong Results
"Growth to Continue Through Overseas Expansion and Strengthening Core Technologies"
Hanwha Systems announced on the 28th that it achieved strong performance in the second quarter, with significant increases in revenue, operating profit, and net profit.
Export-type multifunction radar (MFR) Cheongung-II developed by Hanwha Systems. Hanwha Systems
View original imageOn a consolidated basis, Hanwha Systems recorded revenue of 1.1176 trillion won and operating profit of 103.7 billion won in the second quarter. These represent year-on-year increases of 45% and 219%, respectively. Net profit also rose by 14% to 52.7 billion won, continuing growth across all major indicators: revenue, operating profit, and net profit.
In the defense sector, performance was driven by major export projects, including ▲K2 tank sights and fire control systems for Poland, and ▲Cheongung-II multifunction radars (MFR) for the United Arab Emirates (UAE) and Saudi Arabia. Additionally, improvements were led by key projects such as ▲the next-generation frigate Ulsan-class Batch-III (FFX Batch-III) combat management system (CMS), ▲active electronically scanned array (AESA) radar and avionics systems for the KF-21 fighter jet, and ▲the fourth domestic batch production of K2 tank sights and fire control systems.
The ICT division reported stable performance based on system build-out projects for affiliates, including ▲Hanwha Life Insurance’s next-generation system, ▲ERP implementation for Hanwha Phil Shipyard, and ▲smart plant construction for Hanwha Aerospace.
As of the end of the second quarter, the order backlog stood at 11.2959 trillion won. Hanwha Systems plans to maintain stable growth by expanding its export portfolio and continuing to secure major domestic projects.
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A Hanwha Systems representative stated, "Stable sales from large-scale export projects and mass production of key domestic businesses have driven our improved results. We will further solidify our foundation for sustainable growth through the expansion of overseas markets and the strengthening of our core technological capabilities."
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